(Newser)
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Big gold-dealing Deutsche Bank has opened a 200-ton gold vault in Singapore, a move that reflects the city-state's rising status as a tax haven to rival the likes of Switzerland, Quartz reports. "Gold has traditionally been stored in London, Zurich and New York, but there is a serious shift in dynamics going on as the global financial crisis continues to evolve," says a Deutsche rep. With instability in Europe's markets, Singapore is becoming an increasingly safe and stable option for investors, the Wall Street Journal reports. It also scrapped its 7% goods-and-services tax on gold last year, making it an especially attractive destination to stash any spare precious metals you have lying around.

so 1390.5/Oz USD = 16686/lb = 33372000/ton X 200 = 6674400000 USD. the US debt is at 18000000000000. so the deutsche stash would pay off only 0.0004 or 4 ten-thousanths of 1% of it! we don't owe much....